- Date of Event: 7th April 2017 (Friday)
- Entry Deadline: 15th March 2017
Do you have an original idea that can improve the way we live, work and play?We’re looking for creative, cutting-edge ideas driven by conscientious and dedicated students. GD Goenka Technology Business Incubator presents under IDEA 2017
What is it all about?
An elevator Pitch Competition
An exciting and interactive pitch competition taking place at G D Goenka University, Gurgaon. Pitch your business in a stall , convince our expert judges of its value, and impress the crowd, and you will have the chance to win cash prizes, internship opportunity at start-ups and mentorship from best of the academic and industry experts.
You can showcase your talent by putting up the stall and selling goods or services on the spot. Categories include mobile apps, wearables, social innovation, gaming, interactive, food and beverages, apparels, fashion or other design initiatives to name a few.
Elevator Pitch Competition
An elevator pitch verbally outlines an entrepreneurial concept or idea in a short period of
time. It is typically three minutes in duration, which is symbolic of the amount of time one would have on an elevator ride to capture the attention of a potential investor in the
concept. A successful elevator pitch requires significant prior thought and research, and culminates in the ability to clearly and succinctly highlight the most compelling aspects
of a proposed venture.
In preparing a pitch, teams or individuals should answer the following questions based on
research and data, not opinions:
- What is the product or service?
- What need does it address?
- Who is the primary market for the venture and what can you say about the size and scope of that market?
- What are the compelling attributes that differentiate your product or service from others that address the same need?
- How will your business make money?
- How much startup capital do you need and what are your revenue projections?
- If relevant, what have you achieved already?
Participating individuals or teams will put up an IDEA Stall. This stall can be decorated
with audio/ visual, props or prototype of your business idea. Each IDEA stall would be visited by judges who will give them 5 minutes to pitch- - three (3) minutes to pitch their idea or concept and two (2) minutes for Q&A with the judges. Teams will NOT use PowerPoint presentation, but visual aids, props, or other items (like posters, flex, prototypes). The presentation must stand on its own without a written business plan.
The judges will consider: the innovation of the product, technology or service; product-market fit; the scalability of the business model; the total impact (including sales, social value, impact on users, partners, etc.); and the qualities of the entrepreneur or entrepreneurial team – their level of talent, diversity, and qualities which are value additive to the company.Project entries or ideas must be the original work of the applicant(s).
Awards and Prizes: Three teams with the highest scores be declared the winner, 1st and 2nd runners up of the Elevator Pitch Competition. Prizes will be in the form of cash rewards, trophies, internship opportunity at start-ups and mentoring with experts
Registration Fees: Each individual/ team would be given one table and 2 chairs to showcase their business idea. They can use the space in anymanner as possible and need to pay Rs. 100 per team
- Stalls to be put by students. The stalls could be of games, eatables, house décor, garments, jewellery, self designed products, state ethnic products, cosmetics, stationary etc.
- Each of the stall/ initiative to be duly marketed by students in the run up to the day of the event.
- Only ethical activities which are permitted within the premises will be undertaken by the students. Students will be asked to take care of collecting all their waste material and garbage and leave the space clean.
- Besides giving them a platform to earn profits it aims at honing communication, presentation, marketing and managerial skills of students and also giving them a true feel of being an entrepreneur.
Prizes: Trophies to be awarded for
- Most innovative marketing
- Most popular stall (DJ stall would not be eligible for this prize)
- Most well managed stall
Registration Fees: Student/s will need to book tables in advance on paid basis. Students can take as many tables on paid basis at the rate of Rs. 750 per table
- The competition draws entries from undergraduate and graduate applicants from any University/ Institute. A team can have maximum of 3 students.
- The student teams can choose to be part of one or both of the following
G D Goenka University, Gurgaon welcomed its new batch of students with two days.
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